Mumbai, Mar 12 (TOI): Bid documents for the Navi Mumbai international airport will be issued in June.
Urban development department officials said that a special purpose vehicle will be set up after the bid is finalized.
The City and Industrial Development Corporation (CIDCO), along with the Union government, will hold a 26% stake in the new company. Issues such as forest clearance, fulfilling all conditions laid out while getting environmental clearance--such as a mangrove park and 'training' of the Gadhi river--are still to be fulfilled.
"We have to outline our plans for these conditions to be fulfilled so that bidders have the confidence that there will not be any major hindrance after winning the bids,'' the officials said.
Construction of the airport is estimated to cost Rs 8,400 crore.